Business, 22.11.2019 23:31 Farhan54019
Suppose a tax is imposed on bananas. in which of the following cases will the tax cause the equilibrium quantity of bananas to shrink by the largest amount?
a. the response of buyers to a change in the price of bananas is strong, and the response of sellers to a change in the price of bananas is weak.
b. the response of sellers to a change in the price of bananas is strong, and the response of buyers to a change in the price of bananas is weak.
c. the response of buyers and sellers to a change in the price of bananas is strong.
d. the response of buyers and sellers to a change in the price of bananas is weak.
Answers: 3
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Suppose a tax is imposed on bananas. in which of the following cases will the tax cause the equilibr...
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